(I know at least at BAM, we underwrite 200+ deals before pulling the trigger on the one that meets our specific criteria) Get to know each sponsor's strengths and weaknesses.

You'll have to pull the trigger at some point! 

If this IS your primary residence many private lenders will not be able to lend to you since there are a lot more compliance pieces to fit into.If this WILL NOT be your primary residence then you would need to consider another loan type entirely - which might be an easier process.Feel free to post any other questions you may have here. 

This lender assured me that as long as I stayed current on the loan, deeding over to the LLC after close would not trigger the due on sales clause as far as they were concerned. 

Regardless of refi or no refi, it is likely that deeding away your share will trigger a gift tax, which is why he needs to buy your share of the equity out for enough $$$ to be viewed as an "arm's length" transaction. 

@Martin Vehlow once I figure out how to navigate this app, I’ll let you know when I pull the trigger on getting my feet wet

I have not pulled the trigger yet.

I am guessing pot might not trigger "drug use" as it is is fully legal in this state. 

Specifically when it comes to compliance.

Wanting some expert advice before I pull the trigger.